|Patricia A Solórzano|
Under the Agreement and Guidelines, for 2014, Honduran financial institutions must obtain and exchange from the US Reportable Accounts the following information: (i) name, address, and US taxpayer identification number (TIN) of each specified US person that is an account holder of such account; (ii) account number; (iii) name and identifying number of the reporting Honduran financial institution; and, (iv) average monthly account balance or value during the relevant calendar year.
For 2015 and subsequent years, the following information must be obtained and exchanged:
- Custodial account: the total gross amount of interest, dividends, and of other income generated with respect to the assets held in the account, in each case paid or credited to the account during the calendar year;
- Depository account: the total gross amount of interest paid or credited to the account during the calendar year;
- Any account not described before: the total gross amount paid or credited to the account holder during the calendar year, for which the reporting Honduran financial institution is the obligor or debtor.
The deadline to report this information to the CNBS is March 31 of each year.
Pre-existing entity accounts that are subject to review include: accounts with an account balance or value that exceeds $250,000 as of June 30 2014; and, accounts that do not exceed $250,000 as of June 30 2014 but the account balance or value of which exceeds $1 million as of the last day of 2015 or any subsequent calendar year.
Pre-existing individual accounts not required to be reported include accounts or depository accounts with a balance or value that does not exceed $50,000 as of June 30 2014.
Patricia A Solórzano